Hot Chocolate Market Report Scope & Overview:

Hot Chocolate Market Size was valued at USD 3.72 billion in 2022 and is expected to reach USD 5.76 billion by 2030, and grow at a CAGR of 5.6% over the forecast period 2023-2030.

Drinking chocolate is frequently alluded to as hot cocoa. Drinking Chocolate is rich and smooth with a profound cocoa flavor. In specific nations, chocolate is alluded to as chocolate tea. Drinking chocolate, comprised of little bits of chocolate, which are gradually liquefied and blended in with milk and water, is eaten as a supper. It comprises of liquid chocolate, hot cocoa, chocolate powder, or cocoa powder.

Hot chocolate Market Revenue Analysis

Developing wellbeing mindfulness among customers in metropolitan families has prompted the expansion in the utilization of beverages, including hot cocoa. In addition, moving shoppers tendency toward healthful food varieties and beverages because of changing way of life and dietary patterns is supposed to drive the interest for hot cocoa in the impending years.

Cocoa is viewed as a critical fixing in the assembling of hot cocoa that has no substitute in the market attributable to which the makers progressively depend on these countries for their inventory. Unsettling influences and unpredictable stock prompts instability in the costs of cocoa on the lookout, accordingly hampering the development of hot cocoa market.

Market Dynamics:

Driving Factors:

  • Moving buyer tendency for dietary food and beverages by virtue of changing way of life and dietary patterns.

  • Expanding commonality and reliance of age X, recent college grads, and age Z guardians on online business.

Restraining Factors:

  • The significant expense of R&D exercises.

  • The instability of unrefined substance costs.


  • The simplicity of installment for items through internet-based channels.

  • Drinking chocolate is progressively being utilized in the detailing of refreshments and dessert shop items.


  • Because of the soggy and warm environment of the planet, the market for cocoa is confronting a significant test.

  • Absence of admittance to back and lacking foundation.

Impact of Covid-19:

The chocolate market was hampered by low deals volumes brought about by the COVID-19 scourge, as well as supply-side worries connecting with quality and affirmation. Regarding trades, the Fine Cacao and Chocolate Institute (FCCI) overviewed the effect of the COVID-19 pandemic, which yielded a few upsetting outcomes.

As indicated by reports in the Dominican Republic, the radical lockdown forced kept makers and rural specialists from going to the estates for a considerable length of time until the specialists allowed exemptions. Along these lines, disturbance in the natural substance production network, trailed by lockdown, is bringing about a rising number of specialty stores staying shut for a drawn-out timeframe, and diminished volume utilization of premium chocolates.

Market Estimation:

The Hot chocolate market is divided based on type, cocoa content, application, flavor, structure, target customers, bundling type, bundling material, end-client and appropriation channel. The development among these portions will assist you with breaking down pitiful development sections in the businesses and give the clients a significant market outline and market bits of knowledge to assist them with settling on essential choices for distinguishing center market applications.

Key Market Segments:

By type:

  • Dark

  • White

  • Milk

By Distribution Channel:

  • Supermarkets

  • Hypermarkets

  • E-Commerce

  • Retail Store

  • Online Retail

  • Other

By cocoa content:

  • 30%-40%

  • 40%-60%

  • 60%-90%

By Application:

  • Chocolate Drinks

  • Protein Shakes

  • Energy Drinks

  • Coffee Mixes

  • Others

By Flavour:

  • Vanilla

  • Caramel

  • Honey

  • Hazelnut

By Form:

  • Powder

  • Liquid

By Target customers

  • Adults

  • Kids

By End-users:

  • Food Service Providers

  • Household/Domestic

  • Corporates

  • Airlines

Hot chocolate Market Segmentation Analysis

Regional Analysis:

North America

  • USA
  • Canada
  • Mexico
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • The Netherlands
  • Rest of Europe


  • Japan
  • South Korea
  • China
  • India
  • Australia
  • Rest of Asia-pacific

The middle east & Africa

  • Israel
  • UAE
  • South Africa
  • Rest of middle east & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Worldwide and country investigations are a portion of the primary measurements used to foresee homegrown market situations. It considers the presence and accessibility of worldwide brands, the issue areas of strength for of little contest with nearby and homegrown brands, and the effect of public duties and shipping lanes on country information projections.

Key Players:

Major players included in Hot chocolate Market are Nestle, Starbucks, Swiss Miss, The Hershey Company, W.T.Lynch Foods, GODIVA Chocolatier, Cadbury, Land O'Lakes, Chocomize, Chek Hup Sdn. Bhd.

Starbucks-Company Financial Analysis

Company Landscape Analysis

Hot Chocolate Market Report Scope:
Report Attributes Details
Market Size in 2022 US$ 3.72  Billion
Market Size by 2030 US$ 5.76 Billion
CAGR CAGR 5.6% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by type (dark, white, milk)
• by Distribution Channel (Supermarkets, Hypermarkets, E-commerce, Other)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Nestle, Starbucks, Swiss Miss, The Hershey Company, W.T.Lynch Foods, GODIVA Chocolatier, Cadbury, Land O'Lakes, Chocomize, Chek Hup Sdn. Bhd.
Key Drivers •Moving buyer tendency for dietary food and beverages by virtue of changing way of life and dietary patterns.
Restraints •The significant expense of R&D exercises.
•The instability of unrefined substance costs.

Frequently Asked Questions

 Ans: The chocolate drinks segment is projected to make a foothold in the worldwide Hot chocolate market.

Ans: The significant expense of R&D exercises and absence of admittance to back and lacking foundation are the restrains/challenges faced by the Hot chocolate market.

Ans: Nestle, Starbucks, Swiss Miss, The Hershey Company, W.T.Lynch Foods, GODIVA Chocolatier, Cadbury, Land O'Lakes, Chocomize, Chek Hup Sdn. Bhd. are the key players in the global Hot chocolate market.

Ans: The base year calculated in the Hot chocolate market report is 2021.

Ans: Global Hot Chocolate Market Size grow at a CAGR of 5.6 % over the forecast period 2022-2028.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World

5. Value chain analysis

6. Porter’s 5 forces model

7.  Pest analysis

8. Global Hot Chocolate market segmentation, by Types

8.1 Dark

8.2 White

8.3 Milk

9.  Global Hot Chocolate market segmentation by Distribution Channel

9.1 Supermarkets

9.2 Hypermarkets

9.3 E-Commerce

9.4 Retail Store

9.5 Online Retail

9.6 Other

10. Global Hot Chocolate market segmentation by Cocoa Content

10.1 30%-40%

10.2 40%-60%

10.3 60%-90%

11. Global Hot Chocolate market segmentation by Application

11.1 Chocolate Drinks

11.2 Protein Shakes

11.3 Energy Drinks

11.4 Coffee Mixes

11.5 Others

12. Global Hot Chocolate market segmentation by Flavour

12.1 Vanilla

12.2 Caramel

12.3 Honey

12.4 Hazelnut

13. Global Hot Chocolate market segmentation by Form

13.1 Powder

13.2 Liquid

14. Global Hot Chocolate market segmentation by Target customers

14.1 Adults

14.2 Kids

15. Global Hot Chocolate market segmentation by End-users

15.1 Food Service Providers

15.2 Household/Domestic

15.3 Corporates

15.4 Airlines

16. Global Hot Chocolate market, by Region/Country

16.1     Introduction

16.2     North America

16.2.1 USA

16.2.2 Canada

16.2.3 Mexico

16.3     Europe

16.3.1 Germany

16.3.2 UK

16.3.3 France

16.3.4 Italy

16.3.5 Spain

16.3.6 The Netherlands

16.3.7 Rest Of Europe

16.4     Asia-Pacific

16.4.1 Japan

16.4.2 South Korea

16.4.3 China

16.4.4 India

16.4.5 Australia

16.4.6 Rest Of Asia-Pacific

16.5     The Middle East & Africa

16.5.1 Israel

16.5.2 UAE

16.5.3 South Africa

16.5.4 Rest

16.6     Latin America

16.6.1 Brazil

16.6.2 Argentina

16.6.3 Rest Of Latin America

17. Company profiles

17.1 Nestle

17.1.1 Financial

17.1.2 Products/ Services Offered

17.1.3 Swot Analysis

17.1.4 The SNS View

17.2 Starbucks

17.3 Swiss Miss

17.4 The Hershey Company

17.5 W.T. Lynch Foods

17.6 GODIVA Chocolatier

17.7 Cadbury

17.8 Land O'Lakes

17.9 Chocomize

17.10 Chek Hup Sdn. Bhd.

18. Competitive Landscape

18.1 Competitive Bench Marking

18.2 Market Share Analysis

18.3 Recent Developments

19. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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